Opportunity cost and accounting cost

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  Hence economic profit is revenue minus all opportunity cost -- most that are explicit accounting expenses and others that are implicit cost.

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  Hence economic profit is revenue minus all opportunity cost -- most that are explicit accounting expenses and others that are implicit cost.

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  Economic cost include all the costs including imputed and foregone/opportunity costs For example a entreprenaur should also take economic cost or imputed costs.

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  408731 Calculating Both the Accounting Profit and the Economic Profit Provide assistance with this problem. Given the following data please calculate both the accounting profit and the economic profit.

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  Hence economic profit is revenue minus all opportunity cost -- most that are explicit accounting expenses and others that are implicit cost.

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  How would you define the difference between accounting and economic profit? What are some examples that demonstrate the difference between accounting and economic profit?

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  False - indirect manufacturing costs are called overhead and are also a part of product cost 9. False - opportunity costs are not recorded in the accounting system. The solution explains some questions relating to cost accounting

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  Whereas accounting profit ignores the opportunity cost or implicit cost of doing business in evaluating the performance of that business.